Missouri Mortgage Calculator

Calculate your monthly mortgage payment in Missouri. Pre-filled with Missouri's average property tax rate of 0.97%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$283
Homeowner's Insurance
$100
Total Monthly Payment
$2,153

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,153/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Missouri Housing Overview

Missouri has an average property tax rate of 0.97%. Missouri's cost of living is about 10% below the national average.

Property Tax: 0.97%Progressive rates up to 4.8%Rates being reducedPartial Social Security deduction

Buying a Home in Missouri

If you're considering buying a home in Missouri, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Missouri's average property tax rate of 0.97% to give you a more accurate estimate.

Missouri Property Taxes

Missouri has an average effective property tax rate of 0.97%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.97% rate means approximately $3395 per year, or $283 per month in property taxes alone.

Cost of Living in Missouri

Missouri's cost of living is about 10% below the national average. When evaluating whether to buy a home in Missouri, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Missouri Homebuyers

  • Missouri's top rate has been decreasing — check the current year's rates
  • Kansas City and St. Louis metro areas offer competitive salaries with low cost of living
  • Missouri partially taxes Social Security benefits with deductions for lower incomes
  • Missouri's central location and low cost of living make it attractive for remote workers

Key Missouri Features

  • Progressive rates up to 4.8%
  • Rates being reduced
  • Partial Social Security deduction
  • Two major metro areas

See How Your Missouri Mortgage Fits Your Financial Plan

This calculator shows your Missouri mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Missouri Mortgage Costs with Other States

Iowa1.53% property taxIllinois1.97% property taxKentucky0.83% property taxCalifornia0.71% property taxNew York1.46% property taxMassachusetts1.12% property tax

Frequently Asked Questions

What is the average property tax rate in Missouri?
The average effective property tax rate in Missouri is approximately 0.97%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Missouri's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Missouri?
Your mortgage payment in Missouri depends on the home price, your down payment, interest rate, and loan term. With Missouri's average property tax rate of 0.97%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Missouri an affordable state to buy a home?
Missouri's cost of living is about 10% below the national average. When evaluating affordability in Missouri, consider not just the home price but also property taxes (0.97% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Missouri property taxes compare to other states?
Missouri's average property tax rate of 0.97% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Missouri?
Most states, including Missouri, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Missouri's housing authority and the FHA, VA, and USDA loan programs for additional options.

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